I closed $BABA 20240607 94.0 CALL$  ,BABA: secured 1.15% of premium from this covered call and closed this 1 week ahead of time as already 95% of maximum profit. BABA had corrected down and broke through its 200 days MA support that’s at around $79. If it confirmed next Mon to continue bearish, then BABA will fall back into its bearish channel in the short term. The announcement of selling $5B senior notes seemed to spook the market due to dilution concerns. However I hold contrarian view that it’s a prudent use of financial engineering to unlock value for share holders over long term.
BABA CALL
05-31 23:49
US20240607 94.0
SidePriceRealized P&L
Buy
Close
0.04+95.96%
Closed
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  • KSR
    ·06-01
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